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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

What happened

Tesla (NASDAQ: TSLA) shares popped nearly 5% Wednesday morning after details surfaced from an invite-only investor conference. Shares were still 3.6% higher as of 1:37 p.m. ET. 

So what

The stock dropped yesterday when one electric vehicle (EV) sector analyst presented a case for why a formidable competitor might surprise investors. But those sentiments reversed today after reports started coming out on what Tesla’s head of investor relations said at the Goldman Sachs technology conference in San Francisco Monday. 

Martin Viecha provided attendees of the tech conference with a five-year plan on Monday that has been shared by Yahoo! Finance. The big takeaway for investors is the company continues to focus on cutting costs, which should lead to a new, low-cost EV model down the road. 

Now what

Viecha recalled how it cost Tesla $86,000 to manufacture a car in 2017, and that cost per vehicle is now down to $36,000. The company plans to continue to focus on cost-cutting. It recently revealed it is considering building a lithium refining plant in either Texas or Louisiana that could be in commercial production by the end of 2024. This follows comments by CEO Elon Musk earlier this year that constraints in the refining process are a major reason for the quickly rising costs of lithium-ion batteries. 

But it’s not just the discussion on cost-cutting that garnered investor attention today. It’s more the fact that it could lead to Tesla offering a low-priced entry-level vehicle like a hatchback. This also doesn’t come as a surprise, since Musk has talked about that in the past. But a more concrete plan for getting to a mass-market vehicle offering has investors boosting Tesla shares today. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Why Tesla shares popped today appeared first on The Motley Fool Australia.

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More reading

• Why Tesla stock dropped today
• Better buy: Tesla stock or a Nasdaq index fund?
• Why Tesla shares moved higher today
• Where does Tesla get its lithium and do any ASX shares benefit?
• Why Tesla shares dropped today

Howard Smith has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Tesla. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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Growth and dividends are stereotypically seen as qualities that are incompatible within the same stock.

ASX shares considered high growth usually represent companies that plough their spare cash back into the business to fuel expansion. 

On the other hand, companies that are high dividend payers can afford to do that because they’re not reinvesting it back into growth.

So what happens when you come across a business that’s both growing and handing out a fat yield?

You buy it and hold on for dear life.

ASX share with ‘impressive financial results’

That’s exactly what Cyan Investment Management is doing with construction materials provider Big River Industries Ltd (ASX: BRI).

Portfolio managers Dean Fergie and Graeme Carson told their clients in a memo that Big River’s reporting season update was pleasing.

“Building products manufacturer and distributor Big River was… [a] holding that produced impressive financial results, with FY22 revenues rising 45% to $409 million and underlying profitability up 191% to $22.7 million.”

The market pushed the stock price up 11% over August.

Then came the cream on top.

“Shareholders were rewarded with a final dividend of 10.0 cents per share, taking the full year payout to 15.5 cents, which equates to a ~7% fully franked yield.”

Despite this August party, the Cyan portfolio managers are holding onto the stock for further growth.

“After meeting with Big River this week, the company does not consider FY22 to be a ‘one-off’ with business momentum and margin expansion continuing into FY23.”

Strength in a volatile year

In a year when most non-mining stocks have been hammered, the Big River share price has shown remarkable resilience. The stock is flat over the past 12 months.

Analyst coverage of the company, with a market capitalisation of $178 million, is sparse. 

But according to CMC Markets, at least the team at Moelis Australia agree with Fergie and Carson, rating Big River as a strong buy.

The post This ASX company with 190% profit growth pays a MASSIVE dividend yield appeared first on The Motley Fool Australia.

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More reading

• Fund manager names 4 emerging trends that could result in ‘markedly improved’ performance
• Guess which little-known ASX share is rocketing 30% on ‘outstanding growth’

Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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If you’re wanting to strengthen your portfolio with some ASX 200 blue chip shares, you may want to look at the two listed below.

Both have recently been named as buys by leading brokers. Here’s why they could be buys:

Macquarie Group Ltd (ASX: MQG)

The first blue chip ASX 200 share that analysts rate as a buy is investment bank Macquarie.

Morgans is bullish on the investment bank due to its exposure to a number of long term structural growth areas and its ongoing market share gains in Australian mortgages.

The broker currently has an add rating and $215.00 price target on Macquarie’s shares. This implies potential upside of 22% for investors over the next 12 months.

Morgans commented:

We continue to like MQG’s exposure to long-term structural growth areas such as infrastructure and renewables. The company also stands to benefit from recent market volatility through its trading businesses, while it continues to gain market share in Australian mortgages.

ResMed Inc (ASX: RMD)

Another highly rated ASX 200 blue chip share for investors to look at is ResMed.

It is a global leader in the development, manufacturing, distribution, and marketing of medical devices and cloud-based software for the diagnosis, treatment, and management of respiratory disorders.

The team at Credit Suisse are very positive on the company. They believe ResMed is well-placed to grow its market share in the lucrative sleep treatment market due to a product recall from arch rival Philips. Particularly if US regulators require Philips’ quality control systems to be approved before allowing it to return to market again.

Credit Suisse currently has an outperform rating and $40.00 price target on the company’s shares. This suggests potential upside of 15% for investors over the next 12 months.

The post Analysts name 2 excellent blue chip ASX 200 shares to buy now appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Macquarie shares bear the brunt of bank sell-off amid inflation bomb
• Top ASX dividend shares to buy in September 2022
• Top brokers name 3 ASX shares to buy next week
• I shouldn’t have sold this ASX share two years ago: fund

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ResMed Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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On Wednesday, the S&P/ASX 200 Index (ASX: XJO) had a day to forget and dropped deep into the red. The benchmark index fell a disappointing 2.6% to 6,828.6 points.

Will the market be able to bounce back from this on Thursday? Here are five things to watch:

ASX 200 expected to rise

The Australian share market looks set to rise on Thursday after Wall Street rebounded. According to the latest SPI futures, the ASX 200 is expected to open the day 3 points higher this morning. On Wall Street, the Dow Jones rose 0.1%, the S&P 500 climbed 0.35% and the NASDAQ pushed 0.75% higher.

News Corp named as a buy

The News Corp (ASX: NWS) share price is great value according to analysts at Godman Sachs. This morning the broker retained its buy rating and $31.00 price target on the media company’s shares. This implies potential upside of almost 24% for investors over the next 12 months.

Oil prices rise

Energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have decent day after oil prices pushed higher on Wednesday night. According to Bloomberg, the WTI crude oil price is up 1.6% to US$88.70 a barrel and the Brent crude oil price is up 1.15% to US$94.23 a barrel. Supply concerns continue to boost prices.

Shares going ex-dividend

Another group of shares will be going ex-dividend on Thursday and could trade lower. This includes building materials company Fletcher Building Limited (ASX: FBU), battery materials miner IGO Ltd (ASX: IGO), investment company Seven Group Holdings Ltd (ASX: SVW), and mining giant South32 Ltd (ASX: S32).

Gold price falls

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a difficult day after the gold price fell again overnight. According to CNBC, the spot gold price is down 0.7% to US$1,706.60 an ounce. Rate hike bets continue to weigh on the precious metal.

The post 5 things to watch on the ASX 200 on Thursday appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Evolution Mining share price craters in brutal market sell-off
• Hoping to dig into the next IGO dividend? Here’s what to do
• Why is the Santos share price escaping relatively unscathed today?
• Why is the Woodside share price faring better than the ASX 200 today?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Vulcan Energy Resources Ltd (ASX: VUL) share price plunged by a considerable amount today.

Shares in the zero-carbon lithium explorer were down 7.21%, trading at $8.11 at the close of trade on Wednesday.

It seems that even the euphoria of booming lithium demand can’t match the moves made by the broader US market overnight. The prospect of interest rates rising next week and inflation numbers coming in higher than expected appears to be on everyone’s mind.

The sell-off rippled through to ASX shares, with the vast majority of the market seeing red in afternoon trade.

All ASX indices were down at the close today, with the S&P/ASX 200 Index (ASX: XJO) experiencing a 2.58% contraction in its value.

Zooming in on today’s performance of ASX lithium shares, we can see that damage was inflicted on the sector, with Vulcan emerging as the biggest loser of its peer group this afternoon.

The Mineral Resources Limited (ASX: MIN) share price closed 3.18% lower. Shares in Pilbara Minerals Ltd (ASX: PLS) and Allkem Ltd (ASX: AKE) followed close behind, posting 3.16% and 3.06% losses, respectively.

No announcements from Vulcan explain why the company took a bigger hit than its lithium peers today. But there have been some developments in the recent past. Let’s cover the highlights.

What’s going on with the Vulcan share price?

Some positive developments emerged for lithium and spodumene concentrate on Tuesday. Bell Potter analysts gave guidance estimates for the materials and stated that a widening supply and demand imbalance was tipped in favour of lithium producers.

Vulcan posted a market update the same day claiming that construction has started for its Sorption-Demo Plant in Landau, Germany.

Vulcan Energy managing director and CEO, Dr Francis Wedin, commented:

We are excited to begin onsite construction of our Sorption-Demo Plant, which is the logical next step for us to continue upscaling towards commercial production of lithium hydroxide with a net zero carbon footprint.

We are also encouraged with continuing receipt of environmental approvals from the authorities, and mobilisation of teams for commencement of “on the ground” seismic survey activities, toward our goal of developing a much larger geothermal renewable energy and Zero Carbon Lithium business.

In August, Alster Research gave Vulcan shares a price target of $20 each, which it’s expected to reach in the next 12 months. That’s a 140% upside at the time of writing.

These factors culminate in Vulcan’s lithium production potentially trading at a ‘green premium’ in the future.

Vulcan share price snapshot

The Vulcan share price is down 25.18% year to date. At the same time, the ASX 200 is down 10.03% over this period.

The company’s market capitalisation is $1.16 billion based on its closing share price today.

The post The Vulcan share price sank 7% today in ASX sea of red appeared first on The Motley Fool Australia.

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More reading

• How are ASX lithium shares faring amid Wednesday’s carnage?
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Inflation fears crash Pilbara Minerals share price party
• Expert predicts stock market will crash 20% lower in the next four weeks as US inflation rages out of control
• Why are ASX 200 shares tumbling like dominos on Wednesday?

Motley Fool contributor Matthew Farley has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Paladin Energy Ltd (ASX: PDN) share price is down 5.29% in today’s trade after the broad ASX market sell-off. But it’s still up 31.6% in the past three weeks.

At market close on Wednesday, Paladin shares finished trading at 89.5 cents per share.

Despite the fall in the market sentiment, there appears to be optimism in the Paladin share price. Here’s why.

United States inflation data spooks investors

It was all roses for Paladin shares in the last three weeks until today. Overnight, inflation data came in at higher than original forecasts, causing a wave of pessimism across Wall Street.

This is why the S&P/ASX 200 Index (ASX: XJO) is down 2.58% today.

Economists expected a 0.1% fall in the US consumer price index, mainly due to a decline in oil prices. However, it was the other way around as consumer prices in the US jumped 0.1% in August.

The worst-performing sectors today included real estate and technology, which fell by 4.17% and 3.15% respectively. However, the energy sector fared better, dropping 2.24% today.

Macquarie bullish on Paladin shares

As covered by my colleague Zach Bristow, investment bank Macquarie raised its estimates on the Paladin share price.

Further, Macquarie reinitiated its buy call. This is supported by bullish forecasts of uranium prices rising another 17% to 21% on top of initial forecasts.

The analysts’ forecast is premised on recent news that Japan ordered the development of new nuclear reactors.

Paladin share price snapshot

In the last year, the Paladin share price has dipped 5.8%, but has clawed its way back with a 20% jump in the past month.

The ASX 200 is down 8% in the past year and continues to record falls with a 3% decline in the last month.

The market capitalisation of Paladin is around $2.81 billion.

The post Even with today’s falls, the Paladin Energy share price is still up 31% in 3 weeks. Here’s why appeared first on The Motley Fool Australia.

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More reading

• ASX uranium shares have had a stellar month. Are they just getting started?
• Why Macquarie is tipping 15% upside for the Paladin Energy share price
• Why has the Paladin Energy share price rocketed 20% in a month?
• What’s the outlook for ASX uranium shares in September?
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Raymond Jang has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Commodities trading continues to extend its legs this week with added fuel from US inflation data overnight.

The impact on US markets carried over to the ASX session today, leading all sectors to finish in the red.

The S&P/ASX 200 Index (ASX: XJO) finished 2.58% lower on Wednesday.

Despite this, there were pockets of green scattered throughout the indices today, and these two ASX mining shares were standouts.

Australian Pacific Coal Ltd (ASX: AQC) 

Shares of the coal player launched to new highs today, gaining 55% at one stage during the session.

The spike followed the company releasing updated details of its 5.83 for 1 renounceable entitlement offer.

This was announced earlier in the month, with the company seeking to raise $100 million to ensure it can meet its debt obligations when they fall due, and for working capital.

We covered the full details on the company’s capital raising earlier today here.

It seems investors were galvanised by the news and reacted swiftly. Australian Pacific shares closed 33.33% higher at 60 cents each.

This brings the share’s gains to 300% for the year to date.

Itech Minerals Ltd (ASX: ITM)

Little-known ASX mining share Itech Minerals finished the day with a 14.7% gain after the company released an update on its Campoona Graphite deposit.

The company advised that, following its metallurgical program at the site, it has confirmed a high yield of 47% graphite of 99.99% purity after caustic baking and leach methods.

Speaking on the announcement, managing director Mike Schwarz said:

These results demonstrate that Campoona has the potential to produce a high value spherical graphite, from an Australian project in a State with significant production of renewable energy and excellent infrastructure. The use of non-HF methods such as caustic baking to purify the concentrate add further weight to the projects green credentials which we believe will help us produce a premium product for the renewable energy markets.

Shares of Itech have pushed 95% higher since listing in October 2021.

The post Here are 2 ASX mining shares that went absolutely gangbusters today appeared first on The Motley Fool Australia.

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More reading

• Australian Pacific Coal share price surges 28% on takeover news
• Why has this ASX energy share surged 196% since the start of the week
• Guess which little-known ASX coal share just rocketed 100%

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Well, what a shocking day it was for the ASX share market this Wednesday. After two days of healthy gains, ASX investors were probably not quite prepared for what lay in store for this trading session.

The ASX 200 S&P/ASX 200 Index (ASX: XJO) ended up closing at 6,828.6 points, down a painful 2.58% from yesterday. This wiped around $60 billion from the value of the share market. Remember, yesterday saw the ASX 200 cross back over 7,000 points for the first time this month. It wasn’t to last.

It wasn’t much better for the All Ordinaries Index (ASX: XAO) either. The ASX’s oldest index closed the day at 7,071.8 points, down by 2.51%.

It was the worst day for ASX shares in at least three months, wiping around $60 billion from the value of the share market. The ASX 200 opened at 7,008.2 points this morning but quickly plunged. The index hit a low of 6,808.6 points before closing at just above that figure at 6,828.6 points.

We saw massive falls from the ASX banks, including Commonwealth Bank of Australia (ASX: CBA). CBA shares dropped a nasty 3.55%.

Miners like BHP Group Ltd (ASX: BHP) also fell, but regained at least some of their value in late trading. BHP was down 2.24% at one stage but recovered to end the day down ‘only’ 1.78%. As the largest share on the ASX 200, this saved the index from an even more brutal drop overall.

So what on earth happened to induce such a bloodbath on the share market?

Well, in one word? Inflation.

Inflation fears wipe $60 billion from ASX 200 shares

Last night (our time), the latest inflation numbers came out from the United States. As our chief investment officer Scott Phillips discussed this morning, most commentators were expecting a mild fall in American inflation, given the falling oil prices we’ve seen in recent months.

But the US economy had a surprise in store. Despite lower fuel costs, US inflation actually rose by 0.1% to an annualised rate of 8.3%. As Bruce Jackson described it this morning, “inflation is raging out of control”. For investors, this only means one thing: higher interest rates. Both the US Federal Reserve and our own Reserve Bank of Australia (RBA) have been aggressively hiking rates for most of the year so far.

But investors seemed to be hoping that the US Fed might consider easing off the pedal if the inflation figures showed inflation slowing, as they were expected to. But alas, it was not to be, and many commentators are now expecting the Fed to keep hiking.

Unsurprisingly, US markets were also hammered overnight, which was always going to make things difficult for ASX shares.

Higher interest rates are bad news for shares and for most assets such as housing. Higher rates encourage investors to avoid ‘risky’ investments like shares in favour of safer investments like cash. Further, they also force many investors to change the valuation models used to determine what a company is worth. And not in a good way.

Adding to all of this are concerns that the aggressive path inflation might now force the Fed onto could tip the US (and thus, most of the world) into another recession.

So this hurricane of bad news was almost certainly behind the horrible day ASX shares and the ASX 200 Index had this Wednesday. No doubt, investors will be hoping for a brighter end to the week.

The post ASX 200 shares dump $60 billion in horror session. Here’s how Wednesday unfolded appeared first on The Motley Fool Australia.

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More reading

• ASX 200 mining shares stage significant rebound in afternoon trading
• Macquarie shares bear the brunt of bank sell-off amid inflation bomb
• Rio Tinto share price slides despite new $3bn iron ore project
• The BHP share price is tumbling today, but here’s why Macquarie is bullish
• Expert predicts stock market will crash 20% lower in the next four weeks as US inflation rages out of control

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Betmakers Technology Group Ltd (ASX: BET) share price was a relatively positive performer on Wednesday.

Although the betting technology company’s shares ended the day flat at 39 cents, this was significantly better than the majority of the market.

For example, the All Ordinaries index lost 2.5% of its value during today’s session.

However, it is worth noting that the Betmakers share price isn’t beating the market on a monthly basis.

Since this time in August, the company’s shares have shed 15% of their value.

Why is the Betmakers share price down 15% in a month?

The main weakness in the Betmakers share price in recent weeks appears to have been driven by the release of its full year results.

Although Betmakers reported a massive 371% increase in revenue to $91.7 million, its EBITDA loss was almost as much at $86 million. This was up from a loss of $18.1 million a year earlier. That means for every dollar of revenue it brought in, it lost 94 cents.

Since then, short sellers have been adding to their positions, putting additional pressure on the sell side of the equation.

At the last count, the company had 14.1% of its shares held short. This made it the second most shorted share on the Australian market, just behind Flight Centre Travel Group Ltd (ASX: FLT).

Short sellers appear concerned about the company’s cash burn and how long its current $87.5 million cash and cash equivalents balance will last.

The post Why has the Betmakers share price crashed 15% in a month? appeared first on The Motley Fool Australia.

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More reading

• Here are the 10 most shorted ASX shares
• Nitro now Tyro: Could there be ‘Potentia-l’ for other ASX tech shares?
• Here’s what analysts are saying about the Betmakers share price
• These are the 10 most shorted ASX shares
• These are the 10 most shorted ASX shares

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Betmakers Technology Group Ltd. The Motley Fool Australia has recommended Betmakers Technology Group Ltd and Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The WAM Capital Limited (ASX: WAM) share price outperformed others in its sector on Wednesday. It’s one of the ASX’s biggest listed investment companies (LICs).

While WAM Capital shares were down 0.54%, other LICs saw significant sell-downs amid market declines due to US inflation data.

For example, the Argo Investments Limited (ASX: ARG) share price declined 0.87% while the Carlton Investments Limited (ASX: CIN) share price dropped 1.64%.

It was a much rougher day for the funds management sector. The Perpetual Limited (ASX: PPT) share price fell 3.7% and the Magellan Financial Group Ltd (ASX: MFG) share price declined 5.52%.

What could have supported the WAM Capital share price?

What happens to share prices on the ASX is up to investors. So, it’s investors that are ensuring that WAM Capital shares didn’t get dragged down as much as other ASX shares today.

One factor could be that the LIC announced its monthly update to the market today.

In it, WAM Capital said that its investment portfolio increased during the month of August 2022, outperforming the S&P/ASX All Ordinaries Accumulation Index (ASX: XAOA).

Investors may also be factoring in that the LIC reported that its portfolio had a 12.5% cash weighting at the end of last month, which may help cushion the blow against market declines.

Another factor could be that WAM Capital shares have not gone ex-dividend yet. Some shareholders may not want to sell because they know that if they do, they will lose their entitlement to the FY22 final dividend of 7.75 cents per share. At the current WAM Capital share price, its annualised dividend comes to a grossed-up dividend yield of 12%.

What else was announced?

WAM Capital also told investors about two of its investments that did well — NRW Holdings Limited (ASX: NWH) and oOh!Media Ltd (ASX: OML).

NRW is a provider of diversified contract services to the resources and infrastructure sectors. WAM pointed out that the business upgraded its earnings guidance in early August, then told the market about its strong outlook when it reported its FY22 result. Its order book was at “record levels”.

The withdrawal of the merger proposal with Maca Ltd (ASX: MLD) was seen as “disciplined capital management” from NRW which strengthened the fund manager’s confidence in the company and its management.

Meantime, oOh!Media is the largest outdoor advertising media company in Australia. Its result impressed, with a 62.1% rise in adjusted underlying earnings before interest, tax, depreciation and amortisation (EBITDA) to $51.5 million. It also reduced net debt.

The investment team at WAM said:

We remain positive on oOh!Media as the company recovers from the coronavirus pandemic and believe that earnings will perform better than market expectations. The company also announced an on-market share buyback of up to 10% of its issued share capital, highlighting the strength of the balance sheet.

The post Why did the WAM Capital share price outperform its sector today? appeared first on The Motley Fool Australia.

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More reading

• How do Argo shares measure up to other LICs like AFIC?
• WAM Capital share price rises despite $426 million loss
• Argo share price lifts on record 2022 financial year profit results

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended oOh!Media Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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